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If you run a business or enterprise, you may install a second copy of the Software Product on a portable Device owned by you for the exclusive use of the person within your business or enterprise who is the user of the primary copy of the Software Product, provided that such person only uses the second copy for business purposes.
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Can you make a second copy of your Microsoft Office 2003 or XP software for your portable computer?
Yes! The End-User Licence Agreement (EULA) for some Microsoft application software products includes the aforementioned statement. If your EULA contains this sentence, then, subject to the conditions mentioned in the quote above, you may make a second copy of the software. Note that the software must be installed on the local hard disk of your computer – you are not entitled to make and use a second copy on your portable computer if you run the primary copy of the software from a network server. To check out the EULA of your own MS Office 2003/XP, search in the Microsoft Office\Office11 or Office10 folder for .TXT files the names of which contain the letters "EULA".
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How does Microsoft Product Activation work?
Product Activation works by validating that the software's product key, required as part of product installation, has not been used on more PCs than is allowed by the software's end user license agreement (EULA). In general, Windows XP can be installed on one PC and Office 2003 or Office XP can be installed on one PC and the laptop computer used by the user of the one PC. (For specifics, please see the EULA accompanying your product.)
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Can one copy of MS Office be install on a personal computer and laptop at the same time?
Yes, as long as you are the primary user, and it is not an OEM version. For example, if your son uses the desktop and, at the same time you use the laptop, then you should purchase two licenses.
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BEWARE! THE PORTABLE-USE OPTION IS NOT AVAILABLE FOR OEM VERSIONS OF MS OFFICE! The OEM Office (which typically comes pre-installed; otherwise is obtained at the time of a new computer's purchase) is tied to the original PC and does not have portable use rights. These are only available in Full Packaged Product or Volume licensing. If you attempt this, here is what happens:
Cannot activate OEM edition more than once in Office XP
References:
Microsoft Product Activation Facts
Microsoft Licensing FAQ (look at page 11)
Microsoft Licensing FAQs
Protecting Your Business: New Anti-Piracy Efforts & Licensing for System Builders (February 04, 2005)